Equities analysts predict that Verastem Inc (NASDAQ:VSTM) will post earnings per share of ($0.38) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Verastem’s earnings, with the lowest EPS estimate coming in at ($0.51) and the highest estimate coming in at ($0.28). Verastem reported earnings per share of ($0.61) in the same quarter last year, which indicates a positive year-over-year growth rate of 37.7%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Verastem will report full-year earnings of ($1.50) per share for the current financial year, with EPS estimates ranging from ($1.84) to ($1.25). For the next fiscal year, analysts forecast that the business will post earnings of ($1.24) per share, with EPS estimates ranging from ($1.65) to ($0.83). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Verastem.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The business had revenue of $10.00 million for the quarter.
Several equities research analysts have commented on the stock. BidaskClub raised shares of Verastem from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research raised shares of Verastem from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research report on Friday, July 20th. Raymond James upped their target price on shares of Verastem from $7.00 to $12.00 in a report on Friday, August 10th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Verastem in a report on Monday, August 13th. Finally, BTIG Research assumed coverage on shares of Verastem in a report on Friday, July 13th. They issued a “buy” rating and a $17.00 target price on the stock. Ten analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $13.90.
In other news, VP Joseph M. Lobacki bought 7,700 shares of the company’s stock in a transaction dated Friday, June 8th. The shares were bought at an average cost of $5.79 per share, with a total value of $44,583.00. Following the acquisition, the vice president now owns 7,700 shares in the company, valued at $44,583. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.51% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning grew its stake in Verastem by 30.1% in the 2nd quarter. Creative Planning now owns 58,550 shares of the biopharmaceutical company’s stock valued at $403,000 after buying an additional 13,550 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Verastem in the 2nd quarter valued at about $100,000. Metropolitan Life Insurance Co. NY acquired a new position in Verastem in the 2nd quarter valued at about $130,000. SeaCrest Wealth Management LLC grew its stake in Verastem by 112.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 37,104 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 19,651 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new position in Verastem in the 2nd quarter valued at about $139,000. Institutional investors and hedge funds own 43.43% of the company’s stock.
NASDAQ:VSTM traded down $0.04 on Thursday, hitting $9.20. 31,389 shares of the company’s stock were exchanged, compared to its average volume of 2,422,609. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.70 and a quick ratio of 7.70. Verastem has a 52 week low of $2.77 and a 52 week high of $10.35. The stock has a market capitalization of $732.98 million, a PE ratio of -5.23 and a beta of 2.64.
Verastem Company Profile
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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